Options move markets.
Understand how.

Every options trade leaves a market maker with risk to hedge.That hedging moves the market. Here you can learn how it works, from someone who ran those positions on an SPX desk for fifteen years:

  • Hedging moves marketsLearn what positions tell you about future price action
  • Current PositionsSee the positions and hedging flows driving today's market
  • Trade with ConfidenceLearn a framework to help anticipate market behavior before it happens
Daniel Roos, founder of VolSignals
Daniel Roos, founderFifteen years as an SPX market maker at Belvedere Trading, head trader and position manager.

I want to:

Learn from Market MakersStart with our free modules Get Real Positioning DataSee what's moving the market Trade with VolSignalsDaily analysis and the live room
he doesn't teach you what to think;he teaches you how to think.
TatianaPublic review on Trustpilot, July 2026Individual experiences vary.

Why it matters

Here’s what you’re missing:

Learn to anticipate market moves ahead of time.

72.8 millioncontracts a day, U.S. listed options, Q2 2026

The options market is enormous.

Source: Cboe, Q2 2026

customer buys and sells net hedge

These positions are hedged.

hedge buying hedge selling price

This hedging moves your market.

Dealer Hedging Dynamics

Learn to read the dealer position the way a market maker does.

Everything in this approach rests on one foundation: how a single option gets hedged, and what that hedge does as price, time and volatility move. Get that right and the rest of the framework follows. That foundation is the part we give you free.

  • The foundation modules are free
  • Taught on real SPX positions
  • Lifetime access to the modules
Start the free modules →Free with an email address. No card.★★★★★ 4.4 on Trustpilot, 15 reviews

The teachers

Learn from people who managed those positions.

Daniel Roos

Daniel Roos

Founder. Former SPX market maker, head trader and position manager.

Daniel teaches a way of reading the market maker position that comes directly from running one. At Belvedere Trading he made markets in SPX options, ran the desk as head trader and position manager, and as a young trader built and ran the firm's market maker training program. What he teaches here is how a desk actually thinks about its book.

Matt Nadel

Matt Nadel

Nearly three decades on bank derivatives desks.

Matt ran equity derivatives desks at JP Morgan, Morgan Stanley, Société Générale, RBC, Credit Suisse and UBS, managing large SPX and VIX books. He traded from the other side of the institutional aisle, the bank desks that send the orders a market maker hedges.

At VolSignals they teach how those positions are managed, why the hedges change, and what that means for price. The goal is that you can reason through the market yourself.

See the VIP Mentorship

VS3D, the positioning platform

See the position the teaching describes.

VS3D shows the market maker position in SPX options by strike, with its gamma, charm and vanna profiles. What the course explains, the platform lets you inspect.

Open VS3DRead the platform guide
VS3D Positions by Strike, a historical screenshot of market maker positioning by strike
Positions by Strike. Historical screenshot from the public product guide.

Positions by strike

Where market makers are long and short, strike by strike.

Greek profiles

How the hedge changes with price, time and volatility.

Your own read

Connect the data to the framework and form your own view of the session.

Common questions

Which should I start with?

If you want the mechanics, start with the free course modules. If you want the current position explained every day, VS Pro. If you trade futures full time and want a live room, RTM. The Mentorship is the full framework in a small group. VS3D is the data platform and works alongside any of them.

Is VS3D the same as VS Pro?

No. VS3D is the platform that shows the position. VS Pro is the team's daily analysis of it, with the morning meeting and member discussion. Each product page lists what it includes.

Do I need to be free during the market day?

Only for RTM, which runs live through the session. The course is self-paced, VS Pro analysis is published before and during the day, and the Mentorship sessions are scheduled in advance.

Does positioning predict the market?

No. It tells you the direction and rough size of the hedging that a move would require. That helps you judge the pressure on price. It does not guarantee direction or any trading outcome. Nothing here is financial advice.

Make more sense of the market.

Dan's Weekly View: one free email on where the market maker position sits and what it means for the week ahead.